This invention relates to rotary cutting tools having a tool body the general form of a circular disk with cutting inserts secured tangentially to the circumference of the tool body, for metal machining in general and for machining cam lobes of camshafts of internal combustion engines in particular. Such cutting tools normally employ groups of two or more cutting inserts arranged in a circumferentially staggered formation. The individual cutting edges of the cutting inserts in each group are generally oriented at non-zero lead angles. Consequently, each cutting insert has a non-zero axial component cutting force acting on it. Since the cutting inserts are staggered, the cutting tool is unbalanced with respect to the axial component cutting forces.